At a Glance
India’s Apna has raised $70M in a Series B funding round, at a valuation of $570M. It plans to use these proceeds to double down on its edtech platform by hiring more tech talent
Bengaluru-based Apna. a professional networking platform working towards solving India’s unemployment at the grassroots level, has raised $70 million in a Series B funding round co-led by Insight Partners and Tiger Global, reports state. Apna’s valuation post the funding stands at $570 million.
According to reports quoting Apna’s statements, the proceeds would be used to build more products, recruit tech talent, and expand into other geographies. Its existing investors- Sequoia Capital India, Lightspeed India, Greenoaks Capital, and Rocketship VC- had participated in the round.
Nirmit Parikh, founder and CEO of Apna, stated that the company would adopt a new approach towards solving unemployment and skillset challenges for billions. He noted that Apna had facilitated over 15 million job interviews and work-related conversations over the last month alone.
“We are still in the early stages of solving the problem and are excited to continue on this journey with the backing of our new partners,”Nirmit Parikh, founder and CEO of Apna
Founded in 2019, Apna’s mobile app helps the blue and grey collar workforce unlock unique professional networking and skill opportunities. It uses technology to make use of the power of communities to enable better access to jobs and opportunities.
Commenting on the investment, Griffin Schroeder, partner at Tiger Global Management LLC, said that Apna’s focus on digitizing the job discovery processes, application, and employer-candidate interaction, holds immense potential to revolutionize recruitment.
Nikhil Sachdev, managing director at Insight Partners, opined that Apna built a platform for India’s workforce to establish digital professional identity, network, access skills training, and find high-quality jobs.
“Employers are engaging with Apna at a rapid pace to help find high-quality talent with low friction, leading to best-in-class customer satisfaction scores. We believe our investment will enable Apna to continue their steep growth trajectory, scale up their operations, and improve access to opportunities for India’s workforce,”Nikhil Sachdev, managing director at Insight Partners